Kerzner International intends to transfer its ownership of the Atlantis Resorts and Paradise Island properties including the One and Only Ocean Club to a Canadian company with some $159 billion in assets, Prime Minister Hubert Ingraham announced Tuesday.

Atlantis is Kerzner’s flagship brand, including Atlantis, Paradise Island, a 2,317 room unique, ocean-themed destination, as well as The Cove Atlantis and The Reef Atlantis.

The Prime Minister said that Brookfield Asset Management, a publicly traded company with some $159 billion in assets, has many years of operating experience and more than $69 billion of property assets, which gives them “special expertise” in real estate.

The Atlantis Resort property, however, will continue to be managed and operated by Kerzner International.

Earlier this month president and managing director of Kerzner International Bahamas George Markantonis said bookings at the country’s largest resort continue to climb year on year.

The hotel is running between 10 to 12 percentage points higher than last year due to the special events and prestigious groups the resort is hosting, such as last week ‘s Battle 4 Atlantis college basketball event.

Atlantis is expected to finish the year about 35 per cent ahead of 2010 in actual group room nights, according to Markantonis.

The Prime Minister is expected to deliver a fuller statement on the matter when Parliament meets later this afternoon.

tblair@dupuch.com